Greenland Technologies Holding Corp. 8-K

What Happened
Greenland Technologies Holding Corp. (GTEC) announced the closing of an underwritten public offering of 5,083,330 units at $1.20 per unit on January 29, 2026, generating approximately $6.1 million in gross proceeds. Each unit consisted of one ordinary share and four‑fifths of a warrant (each whole warrant exercisable for one ordinary share). The warrants are immediately exercisable, have a stated exercise price of $1.20 per share (or by means of a zero price exercise), and expire three years from issuance. The offering was underwritten by Joseph Stone Capital, LLC and the securities were registered under the company’s Form S‑1 declared effective January 26, 2026. The company said net proceeds will be used for working capital and general corporate purposes.

Key Details

• Offering: 5,083,330 units at $1.20 per unit; gross proceeds ≈ $6.1 million (closed Jan 29, 2026).
• Warrants: 4/5 warrant per unit; exercisable immediately; expire in 3 years; exercise price $1.20 per share (or zero price exercise as stated).
• Shareholders reconvened the adjourned 2025 Annual General Meeting on Jan 30, 2026 with a quorum (7,956,116 votes, 45.73% of exercisable votes).
• Votes approved: new Memorandum & Articles, implementation of a dual‑class structure (Class A = 1 vote; Class B = 25 votes), reclassification of Trendway Capital Limited’s issued shares as Class B, election of Peter Zuguang Wang and Bo (Frank) Shen as Class II directors, and ratification of Enrome LLP as auditor. Approval votes were generally strong (most proposals ~96%+ in favor; auditor ratification ~99.56% for).

Why It Matters
The offering provides immediate cash for Greenland’s working capital and corporate needs but creates potential future dilution if the warrants are exercised. The shareholder vote to implement a dual‑class structure and reclassify Trendway Capital’s shares as high‑voting Class B shares materially changes the company’s governance and voting power distribution—important for holders focused on control and corporate governance. Director elections and auditor ratification complete board and audit arrangements following the reorganization. Investors should note the financing size, the warrants’ terms, and the governance changes when assessing ownership stakes and potential dilution.